Wolfe Research Begins Coverage on Pinterest (NYSE:PINS)

Wolfe Research started coverage on shares of Pinterest (NYSE:PINS) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued a peer perform rating on the stock.

A number of other analysts also recently issued reports on PINS. Rosenblatt Securities reiterated a buy rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. BMO Capital Markets lifted their price objective on shares of Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Roth Mkm lifted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price objective on shares of Pinterest from $42.00 to $46.00 and gave the company a buy rating in a report on Wednesday, May 1st. Finally, KeyCorp lowered their price objective on shares of Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $42.04.

Pinterest Stock Performance

Shares of PINS stock opened at $40.93 on Tuesday. The company has a market capitalization of $27.96 billion, a P/E ratio of 194.91, a price-to-earnings-growth ratio of 3.97 and a beta of 0.97. The company’s 50 day moving average price is $42.67 and its two-hundred day moving average price is $38.38. Pinterest has a 52 week low of $23.59 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Analysts forecast that Pinterest will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The disclosure for this sale can be found here. Insiders have sold a total of 50,250 shares of company stock valued at $2,191,304 in the last ninety days. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Pinterest by 251.7% during the 2nd quarter. Blue Trust Inc. now owns 2,272 shares of the company’s stock worth $100,000 after purchasing an additional 1,626 shares in the last quarter. Baker Tilly Wealth Management LLC acquired a new position in Pinterest during the 2nd quarter worth approximately $372,000. Envestnet Portfolio Solutions Inc. increased its position in Pinterest by 4.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 21,315 shares of the company’s stock worth $939,000 after purchasing an additional 891 shares in the last quarter. PGGM Investments bought a new stake in Pinterest during the 2nd quarter worth approximately $590,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Pinterest by 6.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,340 shares of the company’s stock worth $1,293,000 after acquiring an additional 1,704 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.